15.4 Sale-and-Leaseback Transactions
ASC 842-40
50-1 If a seller-lessee or a
buyer-lessor enters into a sale and leaseback transaction
that is accounted for in accordance with paragraphs
842-40-25-4 and 842-40-30-1 through 30-3, it shall provide
the disclosures required in paragraphs 842-20-50-1 through
50-10 for a seller-lessee or paragraphs 842-30-50-1 through
50-13 for a buyer-lessor.
50-2 In addition to the
disclosures required by paragraphs 842-20-50-1 through
50-10, a seller-lessee that enters into a sale and leaseback
transaction shall disclose both of the following:
-
The main terms and conditions of that transaction
-
Any gains or losses arising from the transaction separately from gains or losses on disposal of other assets.
An entity that enters into a sale-and-leaseback transaction must provide disclosures in addition to those outlined in Sections 15.2 and 15.3 for lessees and lessors, respectively. In addition, a seller-lessee must disclose the terms and conditions of the sale-and-leaseback transaction and present the gains and losses resulting from the transaction separately from those arising from other asset disposals.